NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 3.9% – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $21.36 and last traded at $21.07. 324,872 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 440,532 shares. The stock had previously closed at $20.27.

Wall Street Analyst Weigh In

NAMS has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank lifted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Needham & Company LLC reduced their target price on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $43.80.

NewAmsterdam Pharma Stock Up 6.3 %

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -8.34 and a beta of -0.06. The company’s fifty day moving average is $22.44 and its 200 day moving average is $20.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the sale, the insider now owns 11,150,461 shares in the company, valued at approximately $283,110,204.79. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 404,927 shares of company stock worth $10,390,787 over the last 90 days. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 23.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after purchasing an additional 3,061,224 shares during the last quarter. Bain Capital Life Sciences Investors LLC boosted its stake in NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock valued at $275,481,000 after purchasing an additional 245,197 shares during the period. RA Capital Management L.P. grew its holdings in NewAmsterdam Pharma by 9.7% in the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company’s stock valued at $227,316,000 after buying an additional 781,000 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after buying an additional 3,412,590 shares during the period. Finally, Jennison Associates LLC grew its position in NewAmsterdam Pharma by 291.9% during the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after buying an additional 2,978,263 shares in the last quarter. 89.89% of the stock is owned by institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.